Originally Posted by younghollywood
All I'll say is that moving out at a young age is a valuable learning experience, yea u may struggle in the beginning some longer than others but you'll learn to hustle harder than before and be resourceful etc. Even today, none of my houses/cars and other material **** I have now are as rewarding to me as moving out at 18 a decade ago and building my own life for myself
I'm sort of in the middle ground. Graduated from college at age 22 and moved back in with the folks working in public accounting for 3 years. Worked my butt off while living at home and saved a ton of money on rent and normal expenses (at least $18k a year living in Cali.)
Moved out at 25. Now 28 and making over $120k (hard work + timing and a little bit of luck.)
Although during those 3 years living at home, I saved quite a bit of money (at least $45k cumulatively) which has been put in a LT savings account to help with the purchase of a home....
Moving out has been incredibly valuable and I believe the value of saving $15k to $20k a year living at home begins to offset against the lack of maturity and growth you get when you live on your own. Living on my own has been a bit of a wake up call. Accountability and responsibility begins to set in. When I was living at home buying shoes was totally fine with me because all my bills were paid for. Nowadays, living on my own, buying a pair of shoes is a big purchasing decision, I have to rationalize the cost/benefit of the purchase before I pull the trigger. Planning for the future has changed too. Making sure I have a steady cash flow reserved for my next big purchase (home) is something I'm conscious about. Also, realizing the power of money......when I was living at home, I spent my money on shoes and material things, now that I'm managing my expenses, any expendible money I have, goes to investment strategies.
If I had to do it again I would have maybe lived at home for 1 year instead of 3, I truly believe I would have matured much faster. Time value of money and compounded interest (the thought of, had I began investing at 22 instead of 26, the difference would be HUGE!!! starts to set in.) Then again, I could have gotten laid off and been in a huge amount of debt had things not been so lucky for me......you never know, either way, I think struggling in your 20's is a huge part of reaching your fullest potential as a man, if you're living "comfortably" in your 20's you're doing it wrong. Take risks, go big, fail a couple of times, those lessons learned will pay dividends in your 30's and 40's when mistakes and their consequences are much more critical.